Cardano

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The post <a href="https://coinpedia.org/price-analysis/doubts-loom-over-xrp-and-adas-potential-to-hit-1-in-2024-whats-next/">Doubts Loom Over XRP And ADA’s Potential To Hit $1 In 2024! What’s Next?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Since the month’s start, the cryptocurrency industry has continued to record a negative trend by trading under a strong bearish influence. Furthermore, the market leader, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin price</a>, has experienced a correction of 12% in valuation within the past seven days with the top altcoins displaying a similar trend. 
On the other hand, Ripple’s XRP and Cardano’s ADA tokens continue their struggle to hold the price above the $0.5 mark, highlighting a negative outlook for these altcoins in the coming time. With this, investors are concerned whether “Will XRP and ADA price ever reach $1?”. 
<h2 class="wp-block-heading" id="h-xrp-price-on-the-verge-of-testing-its-crucial-support-level-at-0-4790">XRP Price On The Verge Of Testing Its Crucial Support Level At $0.4790!</h2> 
The <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/">XRP price</a> has displayed a strong bearish price movement, resulting in its price falling toward its crucial support level. Moreover, the altcoin repeatedly fails to regain momentum, highlighting increased selling-over-buying pressure in the cryptocurrency market. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/UWMIE3GF7YtO1iixGl_Sl9L7e-qx6X6Qv8GgE2Gu05Sspit4uruH_HWURP6Rks17rvkRtlf0ACZ0RliMrDF4Gz_eJwTU3NmMAZDuDGbjvdU3O-FEbgekLcMFJ-jOWpQM0IaPMAM2fPXKNqKlvXkLO7o" alt="XRP Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: XRP/USDT
 </figcaption>
</figure> 
The XRP tokens have recorded a correction of 3.5% within the past 24 hours and approximately 20% over the past seven days. Further, the Year-to-Date (YTD) return of the Ripple token stands at -19.39%. Moreover, the Cross EMA 50/200-day displays a high possibility of a Death Cross in the 1D time frame, indicating a strong bearish sentiment. 
The technical indicator, MACD, displays a constant red histogram, indicating a strong bearish influence in the crypto industry. Moreover, the averages show a significant drop in the chart, suggesting the price will continue losing momentum in the coming time. 
If the market regains momentum following the <a href="https://coinpedia.org/beginners-guide/what-is-bitcoin-halving/">Bitcoin Halving</a>, the Ripple price will prepare to retest its upper resistance level of $0.64 during the upcoming month. However, a bearish price movement may result in the price testing its new low of $0.40 this year. 
Also Check Out : <a href="https://coinpedia.org/price-analysis/xrp-price-records-the-biggest-drop-is-this-the-right-time-to-stack-ripple-tokens/">XRP Price Records The Biggest Drop! Is This The Right Time To Stack Ripple Tokens?</a> 
<h2 class="wp-block-heading" id="h-ada-coin-price-breaks-down-its-important-level">ADA Coin Price Breaks Down Its Important Level!</h2> 
The Cardano price recently broke down its important support level at $0.4660 as the bulls constantly failed to hold power. The <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/">ADA coin price</a> had started the year positively by adding over 71.5% in valuation. However, the bulls lost momentum at $0.80, following which the price lost all its gains. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/Ueit-g-Fvqpzt2K2iokL_HPeq0-Hzufh02UAOrTCIm3GPG7xCMxjLfXWdGRkkR4WBB70qKghOLuJcLz_FPem7mIaAoq-ddg8nzlZFEmrsblw29kCDYfh1HgdmnUCx2NFltR6J_AU5ERJVFIP9uUEc28" alt="ADA Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ADA/USDT
 </figcaption>
</figure> 
The ADA price is currently hovering close to its support/resistance level of $0.466, indicating uncertainty in the future price action of this altcoin. Furthermore, the altcoin presently has a YTD return of -21.45% and a trading price of $0.4667 with a circulating supply of 31.615 Billion ADA tokens. 
The Cardano token continues to display a negative histogram with its averages showing a constant decline in the chart. Moreover, the Cross EMA 50/200-day records a bearish curve, suggesting a negative price action for it during the upcoming weeks. 
Read More : <a href="https://coinpedia.org/price-analysis/xrp-price-heats-up-prominent-crypto-trader-predicts-1-target-next-soon/">XRP Price Heats Up! Prominent Crypto Trader Predicts $1 Target Next Soon</a> 
If the bears dominate the market, the price will continue bleeding and test its lower support level of $0.3480. However, a bullish reversal may push the price toward its upper resistance level of $0.80 by the end of Q2.

Doubts Loom Over XRP And ADA’s Potential To Hit $1 In 2024! What’s Next?

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